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Seven Generations Energy Ltd. (“VII”) has no control over the External Site, any data or other content contained therein or any additional linked websites. The link to the External Site is provided for convenience only. The External Site and its contents are used at visitors’ own risk and VII does not warrant or make any representations or claims as to the validity, correctness, currency, timeliness, or completeness of the information provided on the External Site.
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By entering the External Site, you further acknowledge and agree that the disclaimer of warranties and limitations of liability set out in this disclaimer shall apply regardless of the causes, circumstances or form of action giving rise to the loss, damage, claim or liability, even if such loss, damage, claim or liability is based upon breach of contract (including, without limitation, a claim of fundamental breach or breach of a fundamental term), tort (including, without limitation, negligence), strict liability or any other legal or equitable theory, and even if VII and Virtua are advised of the possibility of the loss, damage, claim or liability. The waiver and release specifically includes, without limitation, any and all rights and claims pertaining to the processing of personal data, including but not limited to any rights under any applicable data protection statute(s).
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Please note the information presented is deemed representative only at the time of its original release. Changes in historical information may occur due to adjustments in accounting and reporting standards & procedures.
In addition to disclosing results determined in accordance with International Financial Reporting Standards (“IFRS”), VII may also disclose certain non-IFRS and pro forma non-IFRS results of operations, including certain ratios, operational and miscellaneous data, as well as adjusted funds from operations, operating income, operating netback, adjusted working capital, available funding and net debt, that make certain adjustments or exclude certain charges and gains that are outlined in the schedules included in this website. Management believes that this non-IFRS and pro forma non-IFRS information provides investors with additional information to assess VII operating performance by making certain adjustments or excluding costs or gains and assists investors in comparing our operating performance to prior periods. Management uses this non-IFRS and pro forma non-IFRS information, along with IFRS compliant information, in evaluating its historical operating performance.
VII and Virtua take no responsibility for third party pricing data provided for informational purposes and ratio results formulated from the provided third party pricing data. The non-IFRS information is not prepared in accordance with IFRS and may not be comparable to non-IFRS information used by other companies. The non-IFRS information should not be viewed as a substitute for, or superior to, other data prepared in accordance with IFRS.
The External Site contains references to certain oil and gas metrics, including barrels of oil equivalent (“boes”) and operating netback. VII has adopted the standard of 6 million cubic feet (“Mcf”): 1 barrel (“bbl”) when converting natural gas to boes. Condensate and other natural gas liquids are converted to boes at a ratio of 1 bbl: 1 bbl. Boes may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf: 1 bbl is based roughly on an energy equivalency conversion method primarily applicable at the burner tip and does not represent value equivalency at VII’s sales points. Given that the value ratio based on oil prices as compared to natural gas prices may be significantly different from the energy equivalency of 6 Mcf: 1 bbl, utilizing a conversion ratio at 6 Mcf: 1 bbl may be misleading as an indication of value. Operating netback is calculated by VII on a per boe basis and is determined by deducting royalties, operating and transportation, processing and other expenses from oil and natural gas revenue and, except where otherwise indicated, after adjusting for realized hedging gains or losses. Operating netback is utilized by the Company and others to better analyze the operating performance of its oil and natural gas assets.
For important additional information regarding the oil & gas and financial information provided on the External Site, users should refer to the original versions of VII’s public disclosure documents, and the reader advisories and notices set out therein, which are available on SEDAR at www.sedar.com.